"Lomond School in the UK to Use Bitcoin for Tuition Payments"

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Summary

Lomond School has announced that it will be the first educational institution in the UK to adopt Bitcoin as a tuition payment method.
The adoption of Bitcoin is an attempt to educate on the 'sound money' principle, viewing Bitcoin as a democratic asset.
Bitcoin received as tuition will be immediately converted into fiat currency, but there are plans to consider holding it as a financial asset in the future.

The prestigious private school 'Lomond School' located in Scotland has announced that it will accept Bitcoin (BTC) as a means of tuition payment.

According to Cointelegraph on the 13th (local time), Lomond School stated in a press release, "Starting from the upcoming fall semester, Bitcoin will be recognized as one of the tuition payment methods." This marks the first instance of an educational institution in the UK accepting Bitcoin payments.

The school explained the background of adopting Bitcoin payments as "an effort to incorporate the Austrian School's 'sound money' principles into student education," adding that "Bitcoin is a democratic asset accessible to everyone." They also mentioned, "There are no plans to introduce other virtual assets (cryptocurrencies) as payment methods."

Bitcoin paid as tuition will be immediately converted into fiat currency. However, the school plans to consider building a 'Bitcoin Treasury' to hold Bitcoin as a financial asset after gathering opinions from the school community.

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